Spain Jan lube sales extend recovery

Spain’s finished lube demand rose in January for a third month amid signs of a gradual recovery in car sales and firm industrial production.

Lube sales of 33,350t in January were up 3pc from the same month a year earlier, according to data from Spain’s CORES, which tracks the country’s energy stocks.

Lube sales of 418,690t in 2021 rose by 11pc from 377,630t the previous year. The 2021 volume was just 2pc below 2019 levels of 425,780t.

The recovery in Spain’s lube demand over the past year has outpaced the strength of the recovery in other regional markets like Italy and France.

The recovery in sales of Spain’s auto lubricants has also outpaced the pick-up in demand for industrial lubricants.

Spain’s car sales began to rise from the start of this year after falling throughout the second half of last year. By contrast, car sales in France and Italy have continued to shrink so far this year.